Press Release
Q1FY23 RESULTS
Highlights
Balance Sheet
- Bank's Balance Sheet size crosses Rs. 50 lakh crores.
- Credit growth at 14.93% YoY. Domestic Advances grew at 13.66% YoY and Foreign Offices' Advances grew by 22.39% YoY.
- Domestic Advances growth driven by Retail Personal Advances (18.58% YoY), out of which Home Loan grew by 13.77% YoY.
- Corporate Loan book grew by 10.57%; SME and Agri loans have also registered YoY growth of 10.01% and 9.82% respectively.
- Whole Bank Deposits grew at 8.73% YoY, out of which CASA Deposit grew by 6.54% YoY. CASA ratio stands at 45.33% as on 30th June 22.
Profitability
- Operating Profit for Q1FY23 at Rs. 12,753 crores as against Rs. 18,975 crores in Q1FY22, impacted by MTM Losses on investment book.
- Net Profit for Q1FY23 at Rs. 6,068 crores as against Rs. 6,504 crores in Q1FY22.
- The MTM hit also had an adverse impact on bank's ROA and ROE, which stand at 0.48% and 10.09% respectively.
- Excluding Trading Income and MTM, Core Operating Profit increased by 14.39% YoY, from Rs. 16,873 crores in Q1FY22 to Rs. 19,302 crores in Q1FY23.
- Net Interest Income (NII) for Q1FY23 increased by 12.87% YoY.
- Domestic NIM for Q1FY23 increased by 8 bps YoY to 3.23%.
Asset Quality
- Gross NPA ratio down by 141 bps YoY at 3.91%, while Net NPA ratio down by 77 bps YoY at 1.00%.
- Provision Coverage Ratio (PCR) improved by 719 bps YoY at 75.05%. PCR (Incl. AUCA) stands at 90.14%.
- Slippage Ratio for Q1FY23 stands at 1.38%; improved by 109 bps YoY.
- Credit Cost for Q1FY23 stands at 0.61%; improved by 18 bps YoY.
Capital Adequacy
- Capital Adequacy Ratio (CAR) as at the end of Q1FY23 stands at 13.43%.
Alternate Channels
- 65% of SB accounts and 38% of retail asset accounts acquired digitally through YONO.
- Share of Alternate Channels in total transactions increased from 95.1% in Q1FY22 to 96.6% in Q1FY23.
Key Summary of Q1FY23 Results
Rs in Crores | Q1FY22 | Q4FY22 | Q1FY23 | YoY % | QoQ % | ||||
Profit & Loss | |||||||||
Interest Income | 65,564 | 70,733 | 72,676 | 10.85 | 2.75 | ||||
Interest Expenses | 37,926 | 39,535 | 41,480 | 9.37 | 4.92 | ||||
Net Interest Income | 27,638 | 31,198 | 31,196 | 12.87 | -0.01 | ||||
NIM, % (Domestic) | 3.15 | 3.40 | 3.23 | 8 bps | -17 bps | ||||
Operating Profit | 18,975 | 19,717 | 12,753 | -32.79 | -35.32 | ||||
Loan loss provisions | 5,030 | 3,262 | 4,268 | -15.14 | 30.86 | ||||
Profit after tax | 6,504 | 9,114 | 6,068 | -6.70 | -33.42 | ||||
Rs in Crores | Jun 21 | Mar 22 | Jun 22 | YoY % | QoQ % | ||||
Balance Sheet | |||||||||
Gross advances | 25,23,793 | 28,18,671 | 29,00,636 | 14.93 | 2.91 | ||||
Domestic Corporate | 7,90,494 | 8,70,712 | 8,74,014 | 10.57 | 0.38 | ||||
Domestic Retail Personal | 8,72,104 | 10,02,303 | 10,34,111 | 18.58 | 3.17 | ||||
Of which: Home loans | 5,05,473 | 5,61,651 | 5,75,075 | 13.77 | 2.39 | ||||
Deposits | 37,20,987 | 40,51,534 | 40,45,696 | 8.73 | -0.14 | ||||
Domestic CASA | 16,59,234 | 17,75,084 | 17,67,666 | 6.54 | -0.42 | ||||
Domestic Term Deposits | 19,50,107 | 21,45,117 | 21,32,185 | 9.34 | -0.60 | ||||
CASA Ratio (%) | 45.97 | 45.28 | 45.33 | -64 bps | 5 bps | ||||
GNPA | 1,34,259 | 1,12,023 | 1,13,272 | -15.63 | 1.11 | ||||
NNPA | 43,153 | 27,966 | 28,258 | -34.52 | 1.04 | ||||
Ratios, % | Q1FY22 | Q4FY22 | Q1FY23 | YoY, bps | QoQ, bps | ||||
Asset Quality | |||||||||
GNPA | 5.32 | 3.97 | 3.91 | -141 | -6 | ||||
NNPA | 1.77 | 1.02 | 1.00 | -77 | -2 | ||||
PCR (Incl AUCA) | 85.93 | 90.20 | 90.14 | 421 | -6 | ||||
PCR | 67.86 | 75.04 | 75.05 | 719 | 1 | ||||
Slippage Ratio | 2.47 | 0.43 | 1.38 | -109 | 95 | ||||
Credit Cost | 0.79 | 0.49 | 0.61 | -18 | 12 | ||||
Capital Ratios | |||||||||
CET-1 ratio | 9.91 | 9.94 | 9.72 | -19 | -22 | ||||
Tier-1 ratio | 11.32 | 11.42 | 11.15 | -17 | -27 | ||||
CAR | 13.66 | 13.83 | 13.43 | -23 | -40 | ||||
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SBI - State Bank of India published this content on 06 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 August 2022 08:23:08 UTC.